Mumbai School Bus Owners To Stop Accepting UPI Payments After October 15 Over Proposed Transaction Charges
Mumbai's School Bus Owners Association has announced it will stop accepting UPI payments for school bus fees after October 15, citing concerns over proposed transaction charges. President Anil Gard said advance fee payments generally exceed Rs 2,000. The association has advised parents to use alternative payment methods, including cheques.
Mumbai School Bus Owners To Stop Accepting UPI Payments After October 15 Over Proposed Transaction Charges | AI Representational Image
Mumbai: In lieu of the charges levied on Unified Payments Interface (UPI), the School Bus Owners Association (SBOA) has refused to accept school bus fees through online payments.
SBOA announced that the last day for accepting digital payments will be October 15, citing the Union Finance Ministry's announcement of levying charges of Rs 200 on transactions above Rs 2,000.
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Transaction charges prompt payment shift
"As the cost of the transaction is to be paid by the merchant receiving the payment, the drivers and companies will have to pay the amount for providing UPI service. The six-month upfront fee is generally above the 2,000 limit, so it will be better for us to accept cheques and NetBanking transfers," said Anil Gard, president of SBOA.
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Association issues circular to parents
In a circular addressed to parents, SBOA said bus fees would henceforth be accepted only through cheques or credit cards.
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